Short Interest in Las Vegas Sands Corp. (NYSE:LVS) Drops By 35.8%

Share on StockTwits

Las Vegas Sands Corp. (NYSE:LVS) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 6,792,800 shares, a decrease of 35.8% from the May 15th total of 10,575,900 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average trading volume of 4,280,000 shares, the short-interest ratio is currently 1.6 days.

NYSE LVS traded up $0.10 during mid-day trading on Thursday, reaching $58.78. 2,135,326 shares of the stock were exchanged, compared to its average volume of 4,010,537. The business has a 50 day simple moving average of $58.60. Las Vegas Sands has a 1 year low of $47.39 and a 1 year high of $77.15. The stock has a market cap of $45.49 billion, a P/E ratio of 17.70 and a beta of 1.52. The company has a quick ratio of 1.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.85.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, April 17th. The casino operator reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Las Vegas Sands had a net margin of 11.15% and a return on equity of 34.52%. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the prior year, the firm posted $1.04 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts forecast that Las Vegas Sands will post 3.59 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 19th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Tuesday, June 18th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 92.77%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Interstate Bank raised its position in Las Vegas Sands by 70.8% during the first quarter. First Interstate Bank now owns 410 shares of the casino operator’s stock worth $25,000 after acquiring an additional 170 shares during the period. Private Capital Group LLC raised its position in Las Vegas Sands by 55.7% during the first quarter. Private Capital Group LLC now owns 467 shares of the casino operator’s stock worth $28,000 after acquiring an additional 167 shares during the period. FTB Advisors Inc. raised its position in Las Vegas Sands by 73.4% during the fourth quarter. FTB Advisors Inc. now owns 607 shares of the casino operator’s stock worth $31,000 after acquiring an additional 257 shares during the period. Semmax Financial Advisors Inc. acquired a new position in Las Vegas Sands during the fourth quarter worth $32,000. Finally, Icon Wealth Partners LLC acquired a new position in Las Vegas Sands during the first quarter worth $32,000. 36.37% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on LVS shares. Zacks Investment Research raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday, May 8th. Stifel Nicolaus upped their price objective on shares of Las Vegas Sands from $72.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Goldman Sachs Group raised shares of Las Vegas Sands to a “buy” rating in a report on Tuesday, June 11th. Jefferies Financial Group upped their price objective on shares of Las Vegas Sands from $57.00 to $69.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, Deutsche Bank upped their price objective on shares of Las Vegas Sands from $60.00 to $69.00 and gave the company a “hold” rating in a report on Thursday, April 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Las Vegas Sands presently has an average rating of “Hold” and an average target price of $68.46.

About Las Vegas Sands

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and iconic Marina Bay Sands in Singapore.

Recommended Story: Earnings Reports

Receive News & Ratings for Las Vegas Sands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Las Vegas Sands and related companies with MarketBeat.com's FREE daily email newsletter.